Private Equity 3 Days

Last updated: July 25, 2026, 8:30 PM ET

Private Equity Activity Spans Tech, Sports, and Healthcare

Elon Musk's tunneling venture, The Boring Company, is reportedly at a valuation of $20 billion. In the sports sector, Bluestone Equity Partners led a $55 million round for Poolhouse, a cue sports platform, while Harbinger has in MLB's Athletics as part of the club's equity financing for a new ballpark. Blue Owl has also acquired a stake in the Cleveland Cavaliers, signaling a growing trend of private equity investment in sports franchises. In healthcare, Longshore has invested in health tech firm Prochant to support its growth, and Providence Equity has invested in UK communications and IT provider SCG. Sky Knight is set to invest in infusion services provider Apex Infusion, with FFL Partners remaining a minority investor.

Dealmaking and Fundraisings Highlight Market Momentum

Shore Capital has realized its first real estate fund with the $268 million sale of a veterinary portfolio comprising 102 properties to Four Corners Property Trust. Elsewhere, Harbour Vest has closed its seventh co-investment programme at $4.75 billion, exceeding its target. In the secondaries market, Blackstone is for its Strategic Partners Fund X, making it the second-largest active fundraise by target. Step Stone's VC secondaries fund has with a $50 million commitment from Ohio's public school employees' pension fund. Blackstone Infrastructure has also extended the merger deadline for TXNM Energy to May 2027 to allow for outstanding regulatory approvals.

Strategic Acquisitions and Portfolio Adjustments

GTCR-backed Dentalcorp has acquired Northstar Dental Partners, a Toronto-based dental support organization. Bain Capital is acquiring UK vitamin company Vitabiotics, aiming for international expansion of its nutrition and supplement brands. Nazca Capital has acquired Madrid Artes Digitales, an operator of immersive cultural experiences, and also picked up another immersive experience operator. Investindustrial has agreed to invest in Italian flavors and fragrances maker PA Aromatics. In the energy sector, Ridgewood Infrastructure-backed MN8 is set to acquire power producer Greenbacker for $375 million. Matador Resources Company is acquiring EnCap-backed Paloma Permian for nearly $1.3 billion, along with undeveloped acreage from Ridge Runner Resources.

Sector Focus on Technology and Specialised Services

In the technology and services sectors, Epiris has appointed Owen Wilson as managing partner. Bregal Sagemount plans to in Luxembourg's ATOZ Services, an administration and governance provider for private equity, credit, and real estate clients. IK Partners is set to sell MDT technologies to BU Bregal Unternehmerkapital. Tinicum has backed specialty chemicals distributor Graco Roberts, while Vesterra Capital has acquired facilities maintenance platform PHFM. Coalesce Capital has invested in cybersecurity provider Worksheet, with sources indicating Monomoy is in advanced talks to sell concrete manufacturer Cast-Crete. Bowmark Capital will become a shareholder in building standards software platform SFG20.

Valuation Discussions and Market Trends

Perpetual has rejected EQT's raised A$2.5 billion approach, citing a persistent price gap. The secondaries market is seeing a strong growth in continuation vehicles, with private real estate managers. China's RMB secondaries market has, presenting both opportunities and risks. Investors at the London Investor Council are, but managers must clearly differentiate their strategies. Discussions around leverage in continuation funds are ongoing, with divisions remaining over its appropriate use when and how.

Venture Capital and Emerging Opportunities

General Catalyst has over Y Combinator in backing fintech deals of $5 million or more in the second quarter. The venture capital landscape is also seeing significant funding rounds in areas like physical AI, biotech, cybersecurity, AI infrastructure, and fintech, with Atoms leading the pack this week for large deals. Edtech platform Imagi has raised $4.5 million in seed funding to develop coding education for students. Several startups are also focusing on AI, with Mistral aiming to rival Anthropic and Yann LeCun building AI startup AMI Labs as new ventures.

Sector Diversification and Exits

Private equity firms are actively engaged in the veterinary care sector, with Warburg Pincus, Great Point Partners, Axcel, and Bansk Group among those involved in. Astorg's co-managing partner, Judith Charpentier, emphasized that a mid-market focus will amidst a volatile macro backdrop. Nordic Capital is set to sell life sciences software provider Aris Global. In other transactions, Valeas Capital Partners is set to invest in My Pension Expert, marking an exit for Palatine after four years. Oaktree-backed GA Group has acquired family law litigation support firm Trampe Settles.